The growing demand for large format printers for home furnishing & decor and vehicle wrap applications is creating “huge growth opportunities for the players in the large format printer market,” according to a new report by researcher MarketsandMarkets.
The report, titled Large Format Printer Market by Offering (Printers, RIP software, Services), Printing Technology (Inkjet, Laser), Ink Type (Aqueous, Solvent, UV Cured, Latex, Dye Sublimation), Print Width, Application, and Geography - Global Forecast to 2025, says the global large format market was worth $US8.7 billion in 2018 and is projected to grow at a CAGR (compound annual growth rate) of 4% from 2019 to reach $US11.4 billion by 2025.
“The large format printer market comprises manufacturers such as Hewlett-Packard (HP) (US), Canon (Japan), Epson (Japan), Mimaki Engineering (Japan), Roland (Japan), Ricoh (Japan), Durst Phototechnik (Italy), Xerox (US), Konica Minolta (Japan), Agfa-Gevaert (Belgium), Electronics for Imaging (EFI) (US), Kyocera (Japan), Lexmark (US), Mutoh (Japan), and ARC Document Solutions (US),” says the report.
“The growing demand for large format printers for home furnishing & decor and vehicle wrap applications, the increasing demand for large format printing from the in-plant market, and the availability of large format printers in different prices and varieties are creating huge growth opportunities for the players in the large format printer market.
“The growth of the large format printer market can also be attributed to the increasing demand for large format printing in the textile, advertising, and packaging industries; rising adoption of UV-curable inks in outdoor advertising, CAD, and technical printing applications; and the growing importance of digital document production in commercial printing applications.”
The report describes the drivers, restraints, opportunities, and challenges for the growth of the large format printer market.
“Manufacturers such as Hewlett-Packard (HP) and Canon, provide a variety of large format printers, such as large format printers-colour (used in colour printing applications that do not strictly require a high print quality), large format printers-black & white (used for black and white printing requirements), and large format printers-graphics (used for indoor and outdoor display graphic applications, such as advertising, banners and posters, billboards, and wall frontage displays, on various paper and plastic materials).”
One of the major reasons for the higher market for inkjet printers is the increasing use of inkjet large format printers for technical and CAD printing, the report says. “Traditionally, the architecture, engineering, and construction (AEC) industry preferred laser printers as these printers used lesser colours and ensured higher printing speed than inkjet printers. However, with time, inkjet printer manufacturers have started providing faster inkjet printers with reduced running costs for large format printing, which has led to the widespread adoption of inkjet printers in this industry.
“Solvent ink is comparatively cheaper than UV-curable and water-based inks; this ink enables printing on various surfaces, including corrugated boards, paper, flexible packaging materials, metal foils, and plastic materials. This ink is flexible, waterproof, durable, and therefore, does not require special over-coatings. It contains pigments rather than dyes, unlike aqueous ink, which contains water. Solvent ink is suitable for applications such as vehicle graphics, banners, and billboards. Solvent ink-based printers are economical compared with aqueous ink-based and UV-cured ink-based printers. These printers enable printing on flexible, vinyl substrates and are largely used in vehicle graphics, banners, and billboards applications.
“These printers are mostly used in custom-apparel and CAD applications. Printers with a print width ranging from 24” to 36” can print pages in quick succession compared with other printers and are good for low-volume environments. These printers have technological features, including inbuilt RAM & storage and web connectivity, along with Wi-Fi certification. Top tier manufacturers such as HP, Roland, Epson, and Canon produce and provide a significant number of these printers in the market.
“Wide varieties and different uses of indoor and outdoor signage, such as warning signs on highways and roads, large corporate emblems, promotional signage, and window displays, contribute to the growth of the large format printer market for signage applications. Signage prints are carried out using wide-format printers; the demand for signage applications is expected to grow during the forecast period, thereby driving the demand for large format printers.”
Retail giants such as Walmart and Carrefour are driving the growth of the market for signage applications.
“The demand for large format printers in the Americas is more for outdoor advertising and indoor signage applications compared to other applications, such as apparels and tile murals. The market in the Americas is more mature than the market in Asia-Pacific [China, Japan, India, Australia and Rest of APAC] and other regions. The Americas is likely to contribute significantly to the growth of the overall large format market during the forecast period.”
The full report is available here for $US5,650 ($A8,088, $NZ8,514).